SAFE and foreign exchange rules

Is the State Administration of Foreign Exchange finally loosening its grip on foreign exchange transactions? Not exactly – the baseline principle of control and scrutiny over the flows of money into and out of China seems here to stay. However, in an attempt to make inflows easier and balance out an increasing outbound stream of RMB, SAFE appears to be looking for ways to ease the process of effectuating foreign exchange transactions where doing so does not come at a material cost to their supervisory powers.

Click on the link above to download this Morrison & Foerster briefing.